Caribbean hotels report ADR, RevPAR records
25 JANUARY 2016 8:25 AM
The Caribbean hotel industry reported record-breaking results in two of the three key performance metrics in 2015, according to data from STR.
HENDERSONVILLE, Tennessee—The Caribbean hotel industry reported record-breaking results in two of the three key performance metrics in 2015, according to data from STR, Inc.
For the year, average daily rate in the market was US$229.44, and revenue per available room was US$157.74. Each of those absolute values was the highest STR has ever benchmarked for a total year in the Caribbean.
In addition, the market’s 68.8% absolute occupancy in 2015 tied 2006 for the third-highest year-end occupancy on record behind 2005 and 2004.
All 12 months in 2015 produced year-over-year increases for ADR and RevPAR in the Caribbean. Occupancy increased year over year in nine of the 12 months.
February was the year’s top-performing month for occupancy (79.2%) in the Caribbean. December produced a record ADR (US$304.34) in the market, as did March for RevPAR (US$224.00).
STR’s census database shows more than 230,000 rooms in more than 1,900 hotels in the Caribbean.
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